Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Cigna Loses in Case on Change in an Older Employee's Pension to Cash Balance Pension Plan
The Wall Street Journal; subscription may be required Nov. 12, 2004
Excerpt: A federal appeals court ruled Wednesday that Cigna Corp. had wrongly forced an older employee to switch to a cash-balance pension plan, a move that reduced his pension significantly. The court, reversing a lower-court decision in favor of Cigna, ruled that the company had adopted a rule that retroactively prevented certain long-service employees from qualifying for a 'grandfather' clause, which would have allowed them to remain under the older, more-generous pension formula.
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |